Regency Park Corporate Campus
Generates More Tax Receipts for OTHS
With the completion of the Regency Conference Center, the City is moving forward with the next stage of Regency Park, which is a new $60 million corporate office campus.
This new campus will attract companies who provide good paying jobs and offer O’Fallon residents the option of working closer to home. A recent study indicated that 85% of residents who work outside O’Fallon would be willing to take a comparable job if it were available locally. These companies will also provide an opportunity for our youth to remain in our community after graduating college.
The new campus will be located along the north side of the Regency Conference Center and will be designed in accordance with the conference center’s quality appearance. It will be marketed as First Class Office space, which includes numerous amenities.
According to PGAV analysts, OTHS 203 will realize an additional $52,709 in property tax receipts over the life of the Tax Increment Financing (TIF) district. If the developer were to build a non-TIF traditional strip mall, OTHS would not receive as much in additional property tax. School District 90 Isn’t impacted by the TIF because the property is located in Central School District 104’s boundaries. Central School will be even in tax revenues at the end of 26 years, based on PGAV’s projection. This project is a win/win for our community and will create jobs for our children and grandchildren.
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